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Severn Trent H1 Adj. Profit Declines; Turnover Up 10.8%

Severn Trent PLC (SVT.L) reported that its first half adjusted earnings per share declined to 29.8 pence from 53.7 pence, last year. The Group said this was a result of higher finance costs due to the impact of inflation on index-linked debt.

For the six months ended 30 September 2022, profit on ordinary activities before tax declined to 104.7 million pounds from 146.9 million pounds, prior year. Profit per share was 31.3 pence compared to a loss of 73.0 pence. Turnover increased to 1.06 billion pounds from 958.2 million pounds, prior year.

The Board has declared an interim dividend for the year ending 31 March 2023 of 42.73 pence, up 4.6%. It will be paid on 11 January 2023 to shareholders on the register at 2 December 2022.

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